Malden Mills to emerge from bankruptcy

Lawrence-based Polartec fleece manufacturer Malden Mills Industries Inc. said on Monday it will file a plan by the end of the month to emerge from bankruptcy.

The company filed for Chapter 11 bankruptcy protection in November, due in part to the financial aftermath of a 1995 fire at the mill, which included chief executive Aaron Feuerstein's decision to continue paying employees after the fire destroyed the factory.

The company said the bankruptcy filing was due in part to the costs associated with rebuilding its facilities.

"Significant improvements have resulted from the restructuring of the business, including more efficient manufacturing, faster product commercialization and a strengthening of the Polartec brand," the company said in a statement.